Keeping a personnel register is mandatory in many countries because it is important for both employers and employees.
The personnel register provides an overview of all employees employed by a company, making it easy to keep track of who is present at any time and who is absent.
The register contains sensitive information and it is therefore essential that this information is kept in a secure and confidential manner. It is therefore also compulsory to keep the special personnel register for a certain period of time. This mandatory retention period is laid down by law and is intended to protect the privacy of employees and to enable employers to monitor compliance with the legislation.
The individual account is an important document used by many companies and organisations to track individual customers' financial transactions for audits and other financial controls. The retention period for individual accounts is regulated by law and may vary depending on the country and sector in which the company operates.
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